The spot iron ore price, amidst thin trade due to a public holiday in China, slumped further on Monday.
According to Metal Bulletin’s iron ore index the spot price for 62% fines slid $1.34, or 2.2%, to $60.02 a tonne.
Having hit a multi-month high of $65.61 on June 11 the spot price has now fallen by 8.52%. Year-to-date the decline currently sits at 15.8%.
Following a holiday on Monday Dalian iron ore futures will resume trading at 11am AEST.